Howard Rubin, a 70-year-old retired financier, has been indicted alongside his assistant, Jennifer Powers, for serious charges related to sex trafficking. This development comes after years of public demand for justice surrounding his alleged actions. Known as the ‘Right Hand Man’ of a major financier, Rubin worked at Soros Fund Management from 2008 to 2015, focusing on mortgage-backed securities. His professional history includes involvement in the notorious 1987 Merrill Lynch trading scandal, which was chronicled in Michael Lewis’s book, Liar’s Poker.
Federal authorities allege that, between 2009 and 2019, Rubin and Powers recruited women for sexual events characterized by severe abuse that led to lasting injuries. U.S. Attorney for the Eastern District of New York, Joseph Nocella Jr., provided insight into the case, stating, “As alleged, the defendants used Rubin’s wealth to mislead and recruit women to engage in commercial sex acts, where Rubin then tortured women beyond their consent, causing lasting physical and/or psychological pain.” This indictment emphasizes that no one, regardless of wealth or status, is above the law.
Nocella’s remarks highlight the gravity of the situation: “Human beings are not chattel to be exploited for sex and sadistically abused.” He warned that individuals who think otherwise could find themselves facing serious legal consequences, just like Rubin and Powers now do.
The allegations have shocked the public and prompted strong reactions from law enforcement officials. FBI Assistant Director Christopher G. Raia elaborated on the disturbing nature of the accusations, stating that Rubin and Powers allegedly spent over a million dollars to support a national trafficking network that facilitated the sexual abuse of multiple women. Raia described how the defendants took advantage of Rubin’s financial standing to ensnare their victims, who were subjected to “unthinkable physical trauma” while being threatened to keep silent.
Harry T. Chavis, IRS Special Agent in Charge, provided further details about the alleged operations. He claimed that Rubin led a sex trafficking enterprise, coercing women from across the country to his Manhattan penthouse, which featured a soundproof sex room outfitted with BDSM equipment. Chavis noted a particularly horrifying detail, stating, “This was not a one-man show. While Rubin dehumanized these women with abhorrent sexual acts, Powers is alleged to have run the day-to-day operations of the enterprise and got paid generously for her efforts.”
This case sheds light on the complexities of sex trafficking and the exploitation of vulnerable individuals. The documentation of horrific acts illustrates a calculated effort to exploit women, all enabled by wealth and a disregard for the law. The collaboration between IRS-CI and the FBI signifies a serious commitment to investigating these egregious violations and holding the responsible parties accountable.
The charges against Rubin and Powers have sent shockwaves throughout the community. As law enforcement officials emphasize, the scales of justice are not swayed by power or wealth. The legal system stands ready to ensure that all those involved in such behaviors will face the repercussions of their actions.
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